Question: Phillip would like to accumulate $ 5 0 5 , 0 0 0 for his retirement in 8 years. If he is promised a rate

Phillip would like to accumulate $505,000 for his retirement in 8 years. If he is promised a rate of 3.54% compounded quarterly by his local bank, how much should he invest today?
Round to the nearest cent
Phillip would like to accumulate $505,000 for his retirement in 8

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